Hey all, I am graduating with a B.A. in Philosophy this year. I have a little bit of experience in finance ( I was a licensed broker at a mid-level firm for about 9 months on Wall St. but quit because it was conflicting with my school schedule ). I have just over 10 months to study for my Cfa Level I so I think that is enough time to be able to pass it. My question is the following: Do you guys think it is necessary for me to get another undergrad degree in finance in order for me to have a) a better understanding of the industry and help me with my trade and b) to help me get a job. Or should I just focus on my CFA and not even bother with anymore undergrad school work… Thanks for all the input as always!
NO WAY
storko, no way to option 1 and just focus on the CFA?
I’m probably in the minority, but I think someone with a non-finance degree + CFA progress is actually a more attractive candidate. CFA stuff tells me you know a little about valuation and portfolio management, and the Philosophy BA tells me you know how to think critically. It’s pretty important in analysis to be able to break away from consensus thinking when appropriate, and Philosophy is actually a pretty good subject to develop those logic and alternative framework skills. So don’t sell yourself short just because you didn’t get a finance degree. I teach an undergrad investments course and there’s no way I’m going to be able to get even through a L1 level of understanding with them in just a semester. You might want to do something that communicates quantitative abilities, however. If you are not a mathy type person, you might take a probability or statistics course at a community college or continuing education program. That’s probably more important than a finance undergrad.
Level 1 + Parts of Level 2 = Undergrad finance degree If you complete the CFA program, you have more than covered what undergrads studied to obtain their degree.
Thanks a lot guys I really appreciate the help. I suppose I will just stay with my B.A. in Philosophy and just focus on the CFA then.
bchadwick Wrote: ------------------------------------------------------- > I’m probably in the minority, but I think someone > with a non-finance degree + CFA progress is > actually a more attractive candidate. CFA stuff > tells me you know a little about valuation and > portfolio management, and the Philosophy BA tells > me you know how to think critically. It’s pretty > important in analysis to be able to break away > from consensus thinking when appropriate, and > Philosophy is actually a pretty good subject to > develop those logic and alternative framework > skills. > > So don’t sell yourself short just because you > didn’t get a finance degree. I teach an undergrad > investments course and there’s no way I’m going to > be able to get even through a L1 level of > understanding with them in just a semester. > > You might want to do something that communicates > quantitative abilities, however. If you are not a > mathy type person, you might take a probability or > statistics course at a community college or > continuing education program. That’s probably > more important than a finance undergrad. What about an actuarial science degree? 
I would take philosophy over act sci any day
Do you know what they say about actuaries? They are people, who find accountancy too exciting. Any background knowledge will help - I have an MBA and the Econ is pretty easy, but we didn’t go as deep down with Quant. Any degree will help you with studying.
No need for a finance degree. More math / stats is nice if you didn’t take much in college. More importantly learn Excel!!!
How can a CFA be equivalent to an undergrad in Finance? finance degrees take full time 3-4 years of study while CFA is only really 3 semesters. explain
Undergrad in Finance includes 2.5 yrs in non-finance core classes (which is covered in the university-grad requirement by the CFAI). The real core finance classes are probably 45 credit hours worth of stuff, which is probably 3 semesters of course work that is obtainable in 1 year of study (if summer semester counts) CFA > ugrad finance.
If you’re thinking about going back to school, why not get an MS degree?
Going back to school to get a 2nd undergrad degree is a massive waste of time. Undergrad finance majors don’t know anything. If you want to go back to school, it should be for an MBA or MS or a PHD.
My cousin has an undergrad finance degree from a major public college and failed CFA level I three times. Clearly CFA > undergrad finance at most schools.
My cousin has an undergrad finance degree from a major public college and failed CFA level I three times. Clearly CFA > undergrad finance at most schools.
smoker Wrote: ------------------------------------------------------- > My cousin has an undergrad finance degree from a > major public college and failed CFA level I three > times. Clearly CFA > undergrad finance at most > schools. totally agree. I have a BBA in Finance from a top private US school and CFA is way more challenging that the finance program. I even know kids from wharton undergrad who agree that level I is more challenging than the courses…